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The taxing history of Browns backer

THE MAN being lined up by Gordon Brown to bankroll his future bid for the Labour leadership is at the centre of a multi-million-pound tax dispute with the Inland Revenue.

Sir Ronald Cohen’s company, Apax Partners, has been at loggerheads with the Revenue for at least two years over its attempts to avoid paying corporation tax.

The company, which Cohen founded and chairs, claims it should be able to offset previous “management expenses” against its tax liability to wipe out its corporate tax bill. The Revenue disputes the scheme.

The chancellor, who oversees the Revenue, has attempted to clamp down on once legitimate tax avoidance schemes.

Cohen, 59, known as “Ronnie” by Brown and other Treasury ministers, is understood to have been lined up by the chancellor to raise funds for a future leadership campaign and oversee the raising of donations for the Labour party.